Should We Go With Embrace Home Loans for Debt Consolidation? – Jennifer

My husband and I had a baby about 2 years ago and shortly after we moved to the small town where I grew up to be closer to family. Which was a wonderful move except for the fact that we both left our higher end paying jobs for jobs that while secure do not pay nearly as much. When we moved we had to sell our house which we just broke even on and we found a house that was quite reasonably priced in my home town. However, we have a large sum of credit card debt and other misc. debts. To top things off my husband’s car broke down and it was going to cost more to fix than it was worth so we had to buy a different vehicle. So now we are at a point where our incomes do not meet our expenses by at least $750 a month.

So my question is we have been looking into a debt consolidation loan through Embrace Home Loans to consolidate all of our debt at a 4.25% interest rate. Is this a good idea or are there other routes we can take that do not involve bankruptcy? The fact is we just aren’t making ends meat.

Jennifer

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Should We Go With Embrace Home Loans for Debt Consolidation? Jennifer
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  • Carol

    EMBRACE HAS HELPED ME MORE THAN ONCE,WE WENT THROUGH A HOUSE FIRE AND REBUILDED,REFINANCED TWICE AND THEY HAVE BEEN THERE FOR ME AND IF I EVER NEED TO REFINANCE I WONT TRUST ANY OTHER CO. IT WILL BE WITH THEM,PEOPLE HAS TO KNOW, YOU CANT DO THIS OVER NIGHT. IT TAKES TIME TO REFINANCE

  • Embrace sucks

    Yea these guys are a rip off as I have dealt with them and after trying to collect on an appraisal that never happened, I called them back and acted like a new customer. I then called “Steve” out, if that’s his real name and told him he’s not getting a cent and I would use every fiber in my body to complain about their sub par scheming ways

  • Snickers

    Thank you for saving me from a potentially disastrous experience with “Embrace”. There have been too many negatives out there about this company. They prey on people with good credit ratings, collect fees and in many cases fail to deliver what is promised. As they say, “if it smells like a duck, …walks like a duck…”.  I will not be taken in by them. Again, thank you to all who shared their negative experiences. Hopefully others will heed your warnings.

  • george

    Look at the BBB website and all the complaints  about this company. %65 respondents were unhappy.

  • Bentway

    I have just received an offer from Embrace Home Loans.  One thing that made me very suspicious is that the company name, ”
    Embrace Home Loans”, only appears in the small print on the last page of the unsolicited offer in fine print.  On investigating them, I found this report: 
    http://www.ripoffreport.com/employees/embrace-home-loans/embrace-home-loans-ripoff-int-f592a.htm

    Make up your own mind, but I’m going to try my current mortgage lender first, then go through an internet loan seeking site.

  • Joycelee8

    I’m in the process of obtaining a Bill Consolidation loan with house as collateral.  My
    attorney and tax man say not to chance it.  Reputation is very spotty at best.  My
    concern is that they say I owe them $600 for an appraisal which never happened.  Two
    appointments were postponed at last minute and one was simply a No Show .. with
    an I’ll call you later.  Ten days later no call yet.  Besides I don’t really have any bills to
    “consolidate”.  Their rep is so helpful, I hate to follow professionals advice but am
    pretty sure they’re right.  IRS cautioned me also… just a general “be careful” but
    enough to make me wonder if I want that lower interest that much.  I’m in my 80s 
    and know that we oldsters are easy to take advantage of…. I fear that this whole
    thing is not exactly on the up and up… although I do like my agent, Chris, very much.

    • http://GetOutOfDebt.org Steve Rhode

      It seems a number of people are telling you the same thing.

  • Jazzie

    mostly time I found blog but I naver gain lots of information but this blog have lots of important information abt this and I got lots of imformation on it . Thanks

    knowledge closet

  • arvinlexor123

    I believe that selling a home is only one of many options available to homeowners to avoid foreclosure. to get more info just go on to Raleigh Purchase Loans

  • arvinlexor123

    I believe that selling a home is only one of many options available to homeowners to avoid foreclosure. to get more info just go on to Raleigh Purchase Loans

  • Facebook

    2 ways to help you determine what to do; 1st; What are other people saying about their experience with Embrace Home Loans? You can see what they say on facebook about Embrace Home Loans here: http://www.facebook.com/Embrac… 2nd; What does the Better Business Bureau have to say? A+ Rated and in business since 1983 read more here: http://www.bbb.org/boston/busi…

  • Facebook

    2 ways to help you determine what to do; 1st; What are other people saying about their experience with Embrace Home Loans? You can see what they say on facebook about Embrace Home Loans here: http://www.facebook.com/EmbraceHomeLoans?v=app_6261817190 2nd; What does the Better Business Bureau have to say? A+ Rated and in business since 1983 read more here: http://www.bbb.org/boston/business-reviews/mortgage-bankers/embrace-home-loans-inc-in-newport-ri-105270/#bbbonlineclick

  • Doyle Brueckner

    I posted my number wrong above… it is 970-946-6942. Sorry!

  • Doyle Brueckner

    Jennifer,

    The answer about what you should do and if you should do this consolidation loan is really going to be dependant on getting a much more complete financial picture of your situation. This would include going through a budget analysis to see if consolidating the debt would actually solve your cashflow problems or if it would end up causing you to eventually lose your home. As a general rule, I normally don’t recommend taking out a second on your home in order to consolidate unsecured debt.

    I hope this helps. If you would like to discuss you situation with me more in detail, I would be happy to do that as well… my number is 979-946-6942.

    Just remember that there is always a pathway to solve any financial problem. The important thing to remember is that you can only do your best. When it’s all said and done, it’s just money.

  • Doyle Brueckner

    Jennifer,The answer about what you should do and if you should do this consolidation loan is really going to be dependant on getting a much more complete financial picture of your situation. This would include going through a budget analysis to see if consolidating the debt would actually solve your cashflow problems or if it would end up causing you to eventually lose your home. As a general rule, I normally don’t recommend taking out a second on your home in order to consolidate unsecured debt.I hope this helps. If you would like to discuss you situation with me more in detail, I would be happy to do that as well… my number is XXXXXXX.Just remember that there is always a pathway to solve any financial problem. The important thing to remember is that you can only do your best. When it’s all said and done, it’s just money.

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